Home prices and especially rents in Metro Vancouver are expected to continue their upward march over the next two years, according to an annual economic forecast from the Canada Mortgage and Housing Corporation.
Rents up
The nation’s housing agency suggests the average two-bedroom rental will hit about $2,800 by 2026, up from $2,380 today and $1,824 in 2021.
The vacancy rate currently sits at 0.8 per cent and will barely get much better in 2026 when it hits 1.0 per cent.
The agency expects turnovers will continue to be low, as existing renters have “limited alternatives” in the rental market.
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